They have the potential but will they realize it? In a report issued earlier this month by Deloitte based on research with over 50 of the UK's leading technology influencers, the UK is facing strong competition from both China and India in its quest to be a leading base of technology. The problem seems to lie in the fact that too few UK-headquarters technology companies are advancing to a global scale.
"The question for the UK is how it can exploit what is currently a relatively advantageous position. We have a strong science base, good innovations in a number of important areas, a strong economy and a leading financial market. All stakeholders involved in the sector - the government, academic institutions, commercial companies and finance firms - need to work together to ensure that we capitalize on the next wave of technological advances now that the IT sector is maturing and consolidating fast," comments William Touche, technology partner at Deloitte.
With a competitive stance in core research areas such as stem cell research, a strong and growing body of expertise in biotechnology, micro-electronics, semi-conductor design, software development, and opto-electronics, the UK has the potential to capture significant share of the international market explains Touche.
To view a copy of the study visit: http://www.deloitte.com/dtt/article/0,1002,sid%253D2847%2526cid%253D88659,00.htmlInterested in information related to this topic? Subscribe to our weekly Value Chain eNewsletter.